San Diego investor buys stalled condo project

A San Diego investor has acquired 20 units in a condominium project in Parker, bringing a long-stalled property back on the market.

Pathfinder Partners LLC, which specializes in making opportunistic investments in distressed real estate assets and defaulted loans, bought the 20 units in Hunter’s Chase, a 60-unit development that includes a pool and recreational area. All units in the other two buildings were sold by the original developer in 2005 and 2006.

The Hunter’s Chase project was first developed in 2005, but construction was halted in 2007 when the economy soured. The two bedroom, two bath condominiums, ranging from 1,084 to 1,224 square feet, will be priced starting at $99,000.

Pathfinder has listed the property for sale with Denver-based Koelbel and Co.